After its recent push into Billdesk, Visa is back with fresh incentives for startups. The multinational digital payments giant is expanding its fast-track program to support fin tech startups in the Asia Pacific, which are developing the next generation of digital payment solutions. The program is already rolled out in Europe and Latin America. The fast-track program speeds up the process for fin tech companies to integrate their payment solutions with VisaNet, Visa’s global network.
The fintech fast-track program provides a new commercial framework that includes access to Visa’s payment capabilities, reduced fees, and streamlined processes. The initial focus for the Asia Pacific will be to support fin-tech that are innovating in verticals such as wallets, instalments, and digital banking.
From this month, fin-tech companies in the Asia Pacific can on board to Visa’s global network in as little as four weeks. It has been tailored to Visa’s fin-tech partners’ needs, adapting to their realities. It also links fin-tech to platforms that are already certified by Visa and connects fin-tech to sponsoring banks.
The fast-track program is one of several initiatives of several Visa programs designed to support fin-tech and startup companies, including investment, partnership, and engagement.
Recent global investments by Visa in fin-tech included Klarna, SolarisBank, Marqeta and Paidy in the Asia Pacific. It also collaborates with many fintech companies and payment platforms. It also runs Visa’s Everywhere Initiative, which is a global innovation program that tasks startups with solving some of the most challenging issues in payments and commerce.